Nokia is on a downward slide. The giant handset maker announced its second quarterly earnings couple of days back and confirmed it shipped 16.7 million smartphones in the most recent quarter. This drop now puts Nokia in third place behind Apple and Samsung. The company reports 7% decline in net sales. The decline was so steep which makes the Apple now officially the new king of the smartphone market. The company reported the loss of $529 million in second quarter as compared to $320 million profit in the same quarter last year. Apple, which hit the cell phone market just over five years ago, its now rank as the most profitable global mobile phone maker. After this results, nokia company official's said -The challenges we are facing during our strategic transformation manifested is greater than expected way in Q2 2011.
Apple is now become the most profitable player in the cell phone market, overtaking previous king Nokia for the crown. Apple earned $1.5 billion profit in last quarter,beating Nokia's best $1.0 billion profit during the last financial quarter, which makes Apple to dominate the mobile phone world.
Apple also overtook Samsung, according to research firm Strategy Analytics. Apple smart Phone revenue was approximately 3 times to that of Nokia. Apple reported $8 billion in iPhone revenue against to Nokia lowly $3.5 billion. The most astonishing number is the fall of Nokia market share in Australia. Market share of Nokia fell from 55% to 24% in the second quarter, as the Apple gained top spot in the country. Apple fans are likely prefer to choose the more expensive iPhone 3G. Apple earning approx $500 per iPhone it sells, but users are paying actually a small protion with carriers wireless subsidizing the largest chunk.
People prefer to buy iPhone because of its vast applications. In addition to being the most preferred smartphone, Apple also ranks high in customer satisfaction, according to latest survey. Over 70 percent of iPhone users indicated that they were happy with the devices. Only 50 percent of Android users expressed their satisfaction over the device, and in case of BlackBerry users the level of satisfaction was only 26 percent. Numbers itself indicates the ruling of Apple in smart phone market.
Nokia official's hoping to partnership with Microsoft and to shift the platform to Windows Phone 7 will may help to boost these lagging numbers but on the other side, with iPhone5 & iOS5 on the horizon, which makes possibly the Apple to lead its position further in the smart phone market.
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